FM meets Banga, calls for World Bank to lead progress on MDB reforms

Finance Minister Nirmala Sitharaman on Wednesday called upon the World Bank to take the lead in advancing the recommendations contained in Volume-I of the reports of the G20 Independent Experts Group prepared under the G20 Presidency, as well as the recommendations in Volume-II for bigger, better and bolder multilateral development banks.

- NIVEDITA MUKHERJEE 

The matter came up during discussions on the outcomes of India's G20 Presidency between the World Bank Group President Ajay Banga and Sitharaman who also pointed out that other MDBs look up to the Bank for such reform initiatives. Taking up WB's engagement with India in various sectors, besides issues of mutual interest, Banga also informed Sitharaman that the Bank has set up a task force team to study recommendations made by G20 and has identified eight unique global challenges to focus on in the next few years as they affect many countries and require attention.